Delhi-NCR retail rents rise as premium-mall vacancy falls to 8.3% (resurfacing a December 2024 report)
Strong 2024 leasing and consumer spending lifted Delhi-NCR retail property demand, with Noida and Gurugram leasing up 12-15%. The region is projected to add more than 27 million sq ft of retail space between 2024 and 2028.
Delhi-NCR retail property recorded strong 2024 leasing, declining premium-mall vacancy and higher rents. Infrastructure projects including Jewar Airport and Dwarka Expressway are supporting Noida and Gurugram demand, while the region is projected to add over 27 million sq ft of retail space by 2028.
Why this matters
The resurfaced December 2024 report aligns with recent signals that Delhi-NCR’s retail pipeline exceeds 27 million sq ft through 2028 and that 2024 brought record leasing, lower mall vacancies and higher high-street rents.
Footfall is steady, with 430 signals in the past 90 days; no QoQ change was provided.